March 26, 2018 / 6:45 AM / 4 months ago

UK's Inchcape to buy Central American car distribution business

March 26 (Reuters) - British car dealership chain Inchcape Plc said on Monday it would buy Grupo Rudelman, a Suzuki-led automotive distribution business in Costa Rica and Panama, for $284 million.

The cash- and debt-free deal will be funded by existing cash and debt facilities, Inchcape said in a statement.

Inchcape added that the deal for Grupo Rudelman, a family-run business, would also improve the group’s operating margin. (Reporting by Rahul B in Bengaluru; Editing by Amrutha Gayathri)

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